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Puerto Rico's PREPA bondholders propose $8 bln restructuring - outline

NEW YORK July 23 (Reuters) - Bondholders of Puerto Rico's debt-laden public utility PREPA offered to refinance their $8 billion in debt by splitting it into two classes of bonds, a move they say would save PREPA $2.5 billion in financing costs through 2025, according to an outline of the proposal made public by the bondholders on Thursday.

Brazil's top party to back austerity despite political dispute -lawmaker

BRASILIA, July 22 (Reuters) - Brazil's largest party, the PMDB, will back the reduction of the government's fiscal savings target and ultimately approve austerity measures despite political tensions, an influential senator told Reuters on Wednesday.

China says Japan's East China Sea pictures provoke confrontation

BEIJING, July 23 (Reuters) - Japan's release of pictures of Chinese construction activity in the East China Sea will only provoke confrontation between the two countries and do nothing for efforts to promote dialogue, China's Foreign Ministry said.

Indian banks opt for offbeat tactics to tackle $49 bln of bad debts

MUMBAI, July 23 (Reuters) - Under pressure to do more to cut a $49 billion mountain of bad debt, India's state-owned banks are reversing years of lax recovery efforts, naming and shaming smaller borrowers and even using big TV screens at shopping malls to advertise seized assets for sale.

RPT-COLUMN-North Dakota oil well completions slow sharply: Kemp

LONDON, July 22 (Reuters) - No new well completion reports have been filed in North Dakota since July 10, the longest gap this year, according to daily activity records published by the state's Department of Mineral Resources (DMR).

CB&I secures contract for Louisiana refinery in US

CB&I has secured $100 contract from major energy company for a Tier 3 clean fuels project.

AEG Power to supply power systems for petrochemical cluster in China

China National Offshore Oil (CNOOC) has selected AEG Power Solutions to supply power systems solutions to secure critical loads applications at its petrochemical production center, located in Huanghua City in the province of Hebei in China.

RPT-UPDATE 1-BHP's 'four pillars' no buffer against weak commodity prices

SYDNEY, July 22 (Reuters) - BHP Billiton's strategy of diversifying across commodities was designed to shield the miner in a volatile sector, but its entire suite of products suffered double-digit price falls in the latest half-year.

UPDATE 2-Work at site of Nexen spill done on tight schedule -engineering firm

FORT MCMURRAY, Alberta, July 22 (Reuters) - Infrastructure at the site in northern Alberta of one of the biggest oil-related pipeline spills ever on North American soil was installed on a "tight schedule", according to the firm that developed some of the pipeline's safety technology.

RPT-WRAPUP 2-Iran pushes nuclear deal as U.S. lawmaker aims to stop it

DUBAI/WASHINGTON, July 22 (Reuters) - Iran's pragmatist government tried on Wednesday to sell its nuclear agreement with world powers to hardliners at home, just as a U.S. congressional leader promised to do "everything possible" to sink the deal.

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